81_FR_12586 81 FR 12540 - Self-Regulatory Organizations; BATS Exchange, Inc.; Notice of Designation of a Longer Period for Commission Action on a Proposed Rule Change, as Modified by Amendment Nos. 1 and 2, to BATS Rule 14.11(i), Managed Fund Shares, To List and Trade Shares of the REX VolMAXX Long VIX Weekly Futures Strategy ETF and the REX VolMAXX Inverse VIX Weekly Futures Strategy ETF of the Exchange Traded Concepts Trust

81 FR 12540 - Self-Regulatory Organizations; BATS Exchange, Inc.; Notice of Designation of a Longer Period for Commission Action on a Proposed Rule Change, as Modified by Amendment Nos. 1 and 2, to BATS Rule 14.11(i), Managed Fund Shares, To List and Trade Shares of the REX VolMAXX Long VIX Weekly Futures Strategy ETF and the REX VolMAXX Inverse VIX Weekly Futures Strategy ETF of the Exchange Traded Concepts Trust

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 81, Issue 46 (March 9, 2016)

Page Range12540-12540
FR Document2016-05182

Federal Register, Volume 81 Issue 46 (Wednesday, March 9, 2016) 
[Federal Register Volume 81, Number 46 (Wednesday, March 9, 2016)]
[Notices]
[Page 12540]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2016-05182]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-77287; File No. SR-BATS-2015-124]


Self-Regulatory Organizations; BATS Exchange, Inc.; Notice of 
Designation of a Longer Period for Commission Action on a Proposed Rule 
Change, as Modified by Amendment Nos. 1 and 2, to BATS Rule 14.11(i), 
Managed Fund Shares, To List and Trade Shares of the REX VolMAXX Long 
VIX Weekly Futures Strategy ETF and the REX VolMAXX Inverse VIX Weekly 
Futures Strategy ETF of the Exchange Traded Concepts Trust

March 3, 2016.
    On December 30, 2015, BATS Exchange, Inc. (``Exchange'') filed with 
the Securities and Exchange Commission (``Commission''), pursuant to 
Section 19(b)(1) of the Securities Exchange Act of 1934 (``Act'') \1\ 
and Rule 19b-4 thereunder,\2\ a proposed rule change to list and trade 
shares of the REX VolMAXX Long VIX Weekly Futures Strategy ETF and the 
REX VolMAXX Inverse VIX Weekly Futures Strategy ETF (each a ``Fund'' 
and collectively, the ``Funds'') of the Exchange Traded Concepts Trust 
under BATS Rule 14.11(i). The proposed rule change was published for 
comment in the Federal Register on January 20, 2016.\3\ On February 10, 
2016, the Exchange filed Amendment No. 1 to the proposed rule change, 
and on February 12, 2016, the Exchange filed Amendment No. 2 to the 
proposed rule change.\4\ The Commission received no comments on the 
proposed rule change.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ See Securities Exchange Act Release No. 76884 (January 13, 
2016), 81 FR 3195.
    \4\ In Amendment No. 1, which replaced and superseded the 
original filing in its entirety, the Exchange provided additional 
information and representations regarding the Funds' investments, 
how certain investments would be valued for the net asset value 
calculation, the availability of price information for certain 
investments, and provided certain additional clarifications to the 
proposed rule change. Amendment No. 1 is available at http://www.sec.gov/comments/sr-bats-2015-124/bats2015124-1.pdf. In 
Amendment No. 2, the Exchange added a representation that the Funds 
will not invest in leveraged (e.g., 2X, -2X, 3X or -3X) investment 
company securities. Amendment No. 2 is available at http://www.sec.gov/comments/sr-bats-2015-124/bats2015124-2.pdf.
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    Section 19(b)(2) of the Act \5\ provides that, within 45 days of 
the publication of notice of the filing of a proposed rule change, or 
within such longer period up to 90 days as the Commission may designate 
if it finds such longer period to be appropriate and publishes its 
reasons for so finding or as to which the self-regulatory organization 
consents, the Commission shall either approve the proposed rule change, 
disapprove the proposed rule change, or institute proceedings to 
determine whether the proposed rule change should be disapproved. The 
Commission is extending this 45-day time period.
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    \5\ 15 U.S.C. 78s(b)(2).
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    The Commission finds it appropriate to designate a longer period 
within which to take action on the proposed rule change so that it has 
sufficient time to consider the proposed rule change. Accordingly, the 
Commission, pursuant to Section 19(b)(2) of the Act,\6\ designates 
April 19, 2016 as the date by which the Commission should either 
approve or disapprove, or institute proceedings to determine whether to 
disapprove, the proposed rule change (File No. SR-BATS-2015-124), as 
modified by Amendment Nos. 1 and 2.
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    \6\ 15 U.S.C. 78s(b)(2).
    \7\ 17 CFR 200.30-3(a)(31).

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\7\
Robert W. Errett,
Deputy Secretary.
[FR Doc. 2016-05182 Filed 3-8-16; 8:45 am]
 BILLING CODE 8011-01-P

12540 Federal Register / Vol. 81, No. 46 / Wednesday, March 9, 2016 / Notices III. Date of Effectiveness of the Commission and any person, other than change was published for comment in Proposed Rule Change and Timing for those that may be withheld from the the Federal Register on January 20, Commission Action public in accordance with the 2016.3 On February 10, 2016, the The foregoing rule change is effective provisions of 5 U.S.C. 552, will be Exchange filed Amendment No. 1 to the upon filing pursuant to Section available for Web site viewing and proposed rule change, and on February 19(b)(3)(A) 32 of the Act and printing in the Commission’s Public 12, 2016, the Exchange filed subparagraph (f)(2) of Rule 19b–4 33 Reference Room, 100 F Street NE., Amendment No. 2 to the proposed rule thereunder, because it establishes a due, Washington, DC 20549 on official change.4 The Commission received no fee, or other charge imposed by the business days between the hours of comments on the proposed rule change. Exchange. 10:00 a.m. and 3:00 p.m. Copies of such filing also will be available for Section 19(b)(2) of the Act 5 provides At any time within 60 days of the inspection and copying at the principal that, within 45 days of the publication filing of such proposed rule change, the Commission summarily may office of the Exchange. All comments of notice of the filing of a proposed rule temporarily suspend such rule change if received will be posted without change; change, or within such longer period up it appears to the Commission that such the Commission does not edit personal to 90 days as the Commission may action is necessary or appropriate in the identifying information from designate if it finds such longer period public interest, for the protection of submissions. You should submit only to be appropriate and publishes its investors, or otherwise in furtherance of information that you wish to make reasons for so finding or as to which the the purposes of the Act. If the available publicly. All submissions self-regulatory organization consents, Commission takes such action, the should refer to File Number SR– the Commission shall either approve the Commission shall institute proceedings NYSEArca–2016–31, and should be proposed rule change, disapprove the under Section 19(b)(2)(B) 34 of the Act to submitted on or before March 30, 2016. proposed rule change, or institute determine whether the proposed rule For the Commission, by the Division of proceedings to determine whether the change should be approved or Trading and Markets, pursuant to delegated proposed rule change should be disapproved. authority.35 disapproved. The Commission is Robert W. Errett, extending this 45-day time period. IV. Solicitation of Comments Deputy Secretary. Interested persons are invited to The Commission finds it appropriate [FR Doc. 2016–05184 Filed 3–8–16; 8:45 am] submit written data, views, and to designate a longer period within BILLING CODE 8011–01–P arguments concerning the foregoing, which to take action on the proposed including whether the proposed rule rule change so that it has sufficient time change is consistent with the Act. SECURITIES AND EXCHANGE to consider the proposed rule change. Comments may be submitted by any of COMMISSION Accordingly, the Commission, pursuant the following methods: to Section 19(b)(2) of the Act,6 [Release No. 34–77287; File No. SR–BATS– Electronic Comments 2015–124] designates April 19, 2016 as the date by which the Commission should either • Use the Commission’s Internet approve or disapprove, or institute Self-Regulatory Organizations; BATS comment form (http://www.sec.gov/ proceedings to determine whether to Exchange, Inc.; Notice of Designation rules/sro.shtml); or of a Longer Period for Commission disapprove, the proposed rule change • Send an email to rule-comments@ Action on a Proposed Rule Change, as (File No. SR–BATS–2015–124), as sec.gov. Please include File Number SR– Modified by Amendment Nos. 1 and 2, modified by Amendment Nos. 1 and 2. NYSEArca–2016–31 on the subject line. to BATS Rule 14.11(i), Managed Fund For the Commission, by the Division of Paper Comments Shares, To List and Trade Shares of Trading and Markets, pursuant to delegated • Send paper comments in triplicate the REX VolMAXX Long VIX Weekly authority.7 to Brent J. Fields, Secretary, Securities Futures Strategy ETF and the REX VolMAXX Inverse VIX Weekly Futures Robert W. Errett, and Exchange Commission, 100 F Street Strategy ETF of the Exchange Traded Deputy Secretary. NE., Washington, DC 20549–1090. Concepts Trust [FR Doc. 2016–05182 Filed 3–8–16; 8:45 am] All submissions should refer to File BILLING CODE 8011–01–P Number SR–NYSEArca–2016–31. This March 3, 2016. file number should be included on the On December 30, 2015, BATS 3 See Securities Exchange Act Release No. 76884 subject line if email is used. To help the Exchange, Inc. (‘‘Exchange’’) filed with (January 13, 2016), 81 FR 3195. Commission process and review your the Securities and Exchange 4 In Amendment No. 1, which replaced and comments more efficiently, please use Commission (‘‘Commission’’), pursuant superseded the original filing in its entirety, the only one method. The Commission will to Section 19(b)(1) of the Securities Exchange provided additional information and post all comments on the Commission’s Exchange Act of 1934 (‘‘Act’’) 1 and Rule representations regarding the Funds’ investments, Internet Web site (http://www.sec.gov/ 19b–4 thereunder,2 a proposed rule how certain investments would be valued for the rules/sro.shtml). Copies of the net asset value calculation, the availability of price change to list and trade shares of the information for certain investments, and provided submission, all subsequent REX VolMAXX Long VIX Weekly certain additional clarifications to the proposed rule amendments, all written statements Futures Strategy ETF and the REX change. Amendment No. 1 is available at http:// with respect to the proposed rule VolMAXX Inverse VIX Weekly Futures www.sec.gov/comments/sr-bats-2015-124/ change that are filed with the Strategy ETF (each a ‘‘Fund’’ and bats2015124-1.pdf. In Amendment No. 2, the Lhorne on DSK5TPTVN1PROD with NOTICES Exchange added a representation that the Funds Commission, and all written collectively, the ‘‘Funds’’) of the will not invest in leveraged (e.g., 2X, ¥2X, 3X or communications relating to the Exchange Traded Concepts Trust under ¥3X) investment company securities. Amendment proposed rule change between the BATS Rule 14.11(i). The proposed rule No. 2 is available at http://www.sec.gov/comments/ sr-bats-2015-124/bats2015124-2.pdf. 32 15 5 15 U.S.C. 78s(b)(2). U.S.C. 78s(b)(3)(A). 35 17 CFR 200.30–3(a)(12). 33 17 CFR 240.19b–4(f)(2). 1 15 U.S.C. 78s(b)(1). 6 15 U.S.C. 78s(b)(2). 34 15 U.S.C. 78s(b)(2)(B). 2 17 CFR 240.19b–4. 7 17 CFR 200.30–3(a)(31). 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Document Created: 2016-03-09 00:13:50
Document Modified: 2016-03-09 00:13:50
CategoryRegulatory Information
CollectionFederal Register
sudoc ClassAE 2.7:
GS 4.107:
AE 2.106:
PublisherOffice of the Federal Register, National Archives and Records Administration
SectionNotices
FR Citation81 FR 12540 
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